Sell your home in the overheated GVRD real estate market and move to The Cottages, for far less than your current home is worth.
According to an annual report from Royal LePage, Vancouver’s real estate market remains the hottest in the country, outpacing the rest of Canada this year. This apparently due to a tight supply of land and a heightened demand driven by a combination of low borrowing costs, an influx of international migrants, strong growth in industries that provide employment and foreign wealth flow encouraged by the low loonie. For those looking to sell their homes, the overheated market is a positive thing, with metro Vancouver homes selling at unprecedented rates. However, for those looking to purchase, such as young and first-time buyers, attaining a home in Vancouver’s housing market is simply not a realistic goal.
For those selling their homes, in addition to those finding themselves outpriced out of the Vancouver real estate market, moving out of the city and purchasing a cottage property might be a feasible option.
Located under a five-hour drive from downtown Vancouver, The Cottages on Osoyoos Lake, is home to a growing number of year-round residents. Management and developers at The Cottages have taken measures to set their properties apart from seasonal cottage properties, allowing buyers to be actively involved in the building and designing process. Properties at The Cottages are completely customizable and are available in 13 different floor plans ranging from just under 1,000 to over 2,000 square feet. These aspects make The Cottages perfect for year-round living.
From a financial perspective, life at The Cottages could make better fiscal sense for property seekers. Properties at the Cottages are not subject to GST or Provincial Property Transfer Tax, saving you tens of thousands of dollars in the long run. In addition, the property has recently obtained approval for mortgage insurance from Canada Mortgage and Housing Corporation, meaning that a wide range of lenders will be available to provide mortgage financing if needed. And finally, the resale value of cottage properties typically reflects the pricing of homes in the local real estate market conditions, which can be an advantage when – (or if) – it comes time to resell.
If that doesn’t convince you, consider what actually living in the beautiful south Okanagan would be like. Between the gorgeous weather – (the warmest annual average temperature in Osooyos is the highest in Canada, comparable to the annual average in Las Vegas) – the scenic orchards and winery properties located within driving distance and the prime location, the appeal of The Cottages simply speaks for itself.